Prospect Medical Holdings signed a letter of intent to sell Crozer Health to CHA Partners, Crozer CEO Tony Esposito said Wednesday. The proposed transaction, which requires the execution of a definitive agreement and regulatory approvals, is expected to close in several months and would transition Upland, Pennsylvania-based Crozer to nonprofit status, Esposito said in a statement. Founded in 2008, real estate company CHA Partners has acquired five hospitals in New Jersey. It also owns ambulatory surgery centers, medical office buildings and skilled nursing facilities.
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Source: https://www.modernhealthcare.com/mergers-acquisitions/prospect-medical-holdings-crozer-health-sale-cha-partners